New Mexico Statutes 46-14-12. Application to cotrustee [co-trustee]
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The terms of a trust may relieve a cotrustee [co-trustee] from duty and liability with respect to another cotrustee’s [co-trustee’s] exercise or nonexercise of a power of the other cotrustee [co-trustee] to the same extent that, in a directed trust, a directed trustee is relieved from duty and liability with respect to a trust director’s power of direction under Sections 9 through 11 N.M. Stat. Ann. § 46-14-9 to 46-14-11 of the Uniform Directed Trust Act.
Terms Used In New Mexico Statutes 46-14-12
- Trustee: A person or institution holding and administering property in trust.